Yahoo Finance Mastic Remover Market Size Worth $990.6 Million by 2031 | CAGR: 6.4%: AMR
Increase in investments in building infrastructure, rise in demand for various consumer goods and growing awareness about environment-friendly activities which fuel the demand for various sustainable products drive the growth of the global mastic remover market. Based on type, the soy based segment held the highest share in 2021 and is expected to maintain its dominance from 2022 to 2031. The same segment would grow at the highest CAGR during the forecast period. Based on region, Asia-Pacific is expected to hold the lion’s share during the forecast period.
Portland, OR, Aug. 11, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global mastic remover market generated $531.6 million in 2021, and is estimated to reach $990.6 million by 2031, witnessing a CAGR of 6.4% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
Report Coverage & Details:
Report Coverage | Details |
Forecast Period | 2022–2031 |
Base Year | 2021 |
Market Size in 2021 | $531.6 Million |
Market Size in 2031 | $990.6 Million |
CAGR | 6.4% |
No. of Pages in Report | 239 |
Segments covered | Type, Application and Region |
Drivers | Increase in investments in building infrastructure in countries such as the U.S., China, Japan, Mexico, and India |
Rise in demand for various consumer goods | |
Rise in investment, policy support and competitive advantage which has surged the establishment of manufacturing industries in both developed and developing economies | |
Opportunities | Increase in awareness about environment-friendly activities which surged the demand for various sustainable products in both developed and developing economies. |
Increase in government regulations and stringent policies led several end-use sectors to become linear toward using environmental-friendly products. | |
Restraints | Volatility in prices of raw materials used for producing mastic removers |
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Covid-19 Scenario:
The COVID-19 pandemic outbreak negatively impacted the mastic remover market, owing to the market’s dependence on end-use sectors such as building & construction, industrial manufacturing, among others.
The rapid spread of the virus among the workforce resulted in delayed construction projects.
Several sustainable product manufacturers in Southeast Asia and Australia either shut down or slowed down their operations, which resulted in supply chain disruptions.
The reduced purchasing potential of suppliers also affected the market.
In addition, the period witnessed disruptions in transportation, contractual implications problems, labor shortage and other factors that together led the construction sector to witness a downfall.
However, emerging geographic scenarios, enhanced domestic supply chain, and strong public investments are predicted to drive the growth of mastic remover market
The report offers detailed segmentation of the global mastic remover market based on type, application and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
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Based on type, the soy based segment held the highest share in 2021, contributing to of the global mastic remover market, and is likely to maintain its leadership status during the forecast period. The same segment is expected to manifest the highest CAGR of 6.5% from 2022 to 2031. The report also provides an analysis of solvent based segment under this category.
Based on application, the concrete segment held the largest share in 2021, accounting for more than half of the global mastic remover market, and is expected to maintain its dominance by 2031. The same segment is estimated to witness the fastest CAGR of 6.7% during the forecast period. The report also discusses the vinyl flooring and others segments under this category.
Based on region, Asia-Pacific accounted for the highest share in 2021, contributing to more than one-third of the global mastic remover market. The same segment is projected to portray the fastest CAGR of 7.4% during the forecast period. The research also analyzes the regions including Europe, North America and LAMEA.
Leading players of the global mastic remover market analyzed in the research include Abatement Technologies, Abatix Corp, American Building Restoration Products, Inc., Aramsco, ArmorPoxy, Citrus Depot, Franmar, ILC Dover LP, Jon-Don, LLC, Mast Away Mastic Remover, Norkan Inc., Quest Safety Products, Inc., Soy Technologies, LLC, SureCrete Design Products, and Twin Chemicals, Inc.
The report analyzes these key players of the global mastic remover market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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